GH Research (NASDAQ:GHRS) Shares Gap Up on Analyst Upgrade

GH Research PLC (NASDAQ:GHRS) gapped up prior to trading on Monday after Cantor Fitzgerald raised their price target on the stock from $25.00 to $35.00. The stock had previously closed at $21.39, but opened at $23.14. Cantor Fitzgerald currently has an overweight rating on the stock. GH Research shares last traded at $22.0790, with a volume of 83,917 shares.

A number of other analysts have also issued reports on GHRS. Weiss Ratings reiterated a “sell (d-)” rating on shares of GH Research in a report on Tuesday, April 21st. HC Wainwright lifted their target price on shares of GH Research from $35.00 to $70.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Guggenheim set a $34.00 target price on GH Research and gave the stock a “buy” rating in a report on Tuesday, March 10th. Royal Bank Of Canada lifted their target price on GH Research from $33.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Finally, Citizens Jmp dropped their target price on shares of GH Research from $42.00 to $39.00 and set a “market outperform” rating on the stock in a report on Friday. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GHRS. Lynx1 Capital Management LP lifted its position in shares of GH Research by 27.5% during the 3rd quarter. Lynx1 Capital Management LP now owns 8,601,189 shares of the company’s stock valued at $122,997,000 after buying an additional 1,854,238 shares in the last quarter. RTW Investments LP increased its stake in shares of GH Research by 6.5% in the 4th quarter. RTW Investments LP now owns 5,933,815 shares of the company’s stock valued at $75,359,000 after purchasing an additional 364,251 shares in the last quarter. Avoro Capital Advisors LLC purchased a new position in GH Research in the 4th quarter worth approximately $22,860,000. Troluce Capital Advisors LLC lifted its holdings in shares of GH Research by 165.4% in the 1st quarter. Troluce Capital Advisors LLC now owns 990,472 shares of the company’s stock worth $13,926,000 after acquiring an additional 617,260 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in GH Research by 324.1% during the 3rd quarter. Millennium Management LLC now owns 863,602 shares of the company’s stock worth $12,350,000 after acquiring an additional 659,957 shares in the last quarter. 56.90% of the stock is currently owned by institutional investors.

GH Research Stock Up 2.5%

The company has a fifty day moving average price of $17.14 and a two-hundred day moving average price of $15.54. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -23.82 and a beta of 1.27.

GH Research (NASDAQ:GHRS) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.04). On average, equities analysts anticipate that GH Research PLC will post -1.52 earnings per share for the current fiscal year.

About GH Research

GH Research Holdings Inc is a clinical-stage biotechnology company dedicated to the development of novel treatments for neuropsychiatric disorders through the application of psychedelic-inspired compounds. Headquartered in Dublin, Ireland, the company focuses on harnessing the unique pharmacology of 5-methoxy-N-dimethyltryptamine (5-MeO-DMT) and related molecules to address high unmet medical needs in mental health.

The firm’s lead program, GH001, is an inhaled formulation of 5-MeO-DMT that has completed early-stage clinical trials assessing safety, tolerability and preliminary efficacy in treatment-resistant depression.